“5 Signs You’ll Have to Work Until 70” isn’t just a headline - it’s a reality facing many Kiwis today. In this episode, we unpack the key warning signs and what you can do now to avoid working longer than you want.
Nearly half of Kiwis aged 65-69 are still working, and for many, it’s not by choice. Around 40% rely entirely on NZ Super, with no meaningful savings to fall back on.
1. You’re Carrying Debt Into Retirement
One of the biggest signs you’ll have to work until 70 is entering retirement with debt-especially a mortgage.
If you’re still paying off a home in your 60s, that becomes your largest expense right when your income drops. That means your NZ Super and any savings are immediately under pressure.
It also means you miss the “sprint” phase – the period after your mortgage is paid off but before you retire. This is where you should be redirecting repayments into investments and building your retirement income.
Without that phase, you’re left asset-rich but cash-poor – with no income if you stop working.
2. You Have No Visibility on Your Spending
Another major indicator is not knowing where your money is going.
If you don’t understand your spending:
- You’re likely leaking cash flow
- You can’t build savings effectively
- You have no idea how much you’ll need in retirement
The reality is simple: your retirement number is directly tied to your lifestyle.
For example, if you want $100,000 per year in retirement, you may need around $2 million invested. But if your spending is actually $200,000, that requirement doubles.
Without clarity, you’re guessing – and that’s where people fall off track.
3. You Don’t Have a Long-Term Plan
A lack of direction is a huge red flag.
Many people are simply on autopilot – earning, spending, and hoping it all works out. But money is just a tool to support the life you want. Without defining that life, there’s no roadmap.
Even if you don’t know exactly what you want, you can start with what you don’t want:
- Working full-time into your late 60s
- Renting forever
- Being unable to support your family
From there, you reverse engineer the steps needed to get somewhere better.
4. You’re Relying on NZ Super and KiwiSaver Alone
For a couple, NZ Super is around $40,000 per year. A modest retirement lifestyle is closer to $60,000-$70,000 and many people want more.
KiwiSaver helps, but for many people (especially those already 30+), it likely won’t be sufficient on its own.
The safest approach is to treat NZ Super as a bonus – not a plan.
5. You Have Poor Financial Processes
The final sign is inconsistency.
If your savings are whatever is “left over,” your system is broken. Strong financial outcomes come from strong processes:
- Automated savings and investments
- Structured mortgage repayments
- Regular reviews (at least annually or after major life events)
You don’t rise to your goals – you fall to your systems.
Consistency over time is what builds wealth, not trying to time the market or relying on motivation alone.
Key Takeaways
- Nearly half of Kiwis aged 65-69 are still working – often out of necessity
- Carrying debt into retirement significantly reduces your financial freedom
- Without tracking spending, you can’t calculate or reach your retirement goal
- NZ Super and KiwiSaver alone are unlikely to provide a comfortable retirement
- A clear plan and consistent financial systems are essential to avoid working longer than you want
- The earlier you take control, the more options you’ll have later in life
Next Steps:
If you want clarity on your retirement plan and whether you’re on track, the team at Lighthouse Wealth can help you build a structured strategy tailored to your situation.
If you’d like to watch more, check out this other episode below.
For a no obligation discussion to see how we can help you on the path to wealth, please contact us.
Disclaimer:
The information in this article is general information only, is provided free of charge and does not constitute professional advice. We try to keep the information up to date. However, to the fullest extent permitted by law, we disclaim all warranties, express or implied, in relation to this article – including (without limitation) warranties as to accuracy, completeness and fitness for any particular purpose. Please seek independent advice before acting on any information in this article.
